Citadel Advisors LLC trimmed its holdings in Astronics Co. (NASDAQ:ATRO) by 40.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 24,530 shares of the aerospace company’s stock after selling 16,634 shares during the quarter. Citadel Advisors LLC owned 0.09% of Astronics worth $915,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in ATRO. Dimensional Fund Advisors LP raised its holdings in Astronics by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 804,046 shares of the aerospace company’s stock valued at $29,991,000 after buying an additional 4,151 shares during the last quarter. Pinnacle Associates Ltd. bought a new stake in Astronics during the 1st quarter valued at $367,000. Scout Investments Inc. increased its position in Astronics by 8.4% during the 1st quarter. Scout Investments Inc. now owns 105,425 shares of the aerospace company’s stock valued at $3,932,000 after purchasing an additional 8,175 shares during the period. BlackRock Inc. increased its position in Astronics by 4.7% during the 1st quarter. BlackRock Inc. now owns 2,463,572 shares of the aerospace company’s stock valued at $91,891,000 after purchasing an additional 111,431 shares during the period. Finally, Aperio Group LLC increased its position in Astronics by 21.2% during the 1st quarter. Aperio Group LLC now owns 8,263 shares of the aerospace company’s stock valued at $308,000 after purchasing an additional 1,444 shares during the period. Hedge funds and other institutional investors own 69.16% of the company’s stock.
In other Astronics news, CEO Peter J. Gundermann sold 2,000 shares of the company’s stock in a transaction dated Friday, April 20th. The shares were sold at an average price of $38.80, for a total transaction of $77,600.00. Following the transaction, the chief executive officer now owns 9,595 shares in the company, valued at approximately $372,286. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 10,000 shares of company stock worth $373,120 in the last 90 days. Company insiders own 16.57% of the company’s stock.
Astronics (NASDAQ:ATRO) last posted its earnings results on Wednesday, May 9th. The aerospace company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.20). The company had revenue of $179.06 million for the quarter, compared to the consensus estimate of $182.24 million. Astronics had a net margin of 1.75% and a return on equity of 8.43%. Astronics’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS. analysts forecast that Astronics Co. will post 1.46 EPS for the current year.
A number of research analysts have issued reports on the stock. BidaskClub downgraded shares of Astronics from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. Canaccord Genuity reaffirmed a “buy” rating and issued a $50.00 target price (up from $48.00) on shares of Astronics in a research report on Tuesday, February 27th. SunTrust Banks reduced their target price on shares of Astronics to $39.00 and set an “average” rating on the stock in a research report on Tuesday, February 27th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Astronics from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Astronics currently has an average rating of “Hold” and an average price target of $42.75.
Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.
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